Military and Defense Sensor Market to Garner $14.43 Billion by 2031: Allied Market Research

Emerging applications of radar in remote sensing, the rise in defense expenditure globally, and a rise in the adoption of sensors in wearable devices drive the growth of the military and defense sensor market. Based on region, North America held the largest share in 2021, contributing to nearly half of the global military and defense sensor market share.


Portland, OR, March 02, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global military and defense sensor market garnered $8.26 billion in 2021 and is estimated to generate $14.43 billion by 2031, manifesting a CAGR of 5.79% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chains, competitive scenarios, and regional landscapes. This research offers valuable guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining a competitive edge in the market.

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Report Coverage & Details:

Report CoverageDetails
Forecast Period2022–2031
Base Year2021
Market Size in 2021$8.26 billion
Market Size in 2031$14.43 billion
CAGR5.79%
No. of Pages in Report261
Segments CoveredPlatform, component, application, and region
Drivers An emerging application of radar in remote sensing

Rise in defense expenditure globally

Rise in adoption of sensors in wearable devices
OpportunitiesThe surge in military modernization programs

High demand for autonomous security and surveillance systems
RestraintsThe incorporation of sensors in devices incurs extra value and reduces the life of the device.

Policies on the development and transfer of weapon systems or related technology

Covid-19 Scenario:

  • The outbreak of the COVID-19 pandemic hurt the growth of the global military and defense sensor market, owing to the implementation of global lockdown which resulted to hamper the industry.
  • Curfew practices globally affected the domestic as well as international production of military and defense sensors, which, in turn, hampered the growth of the overall market.
  • Supply chain was disrupted due to import & export restrictions. Manufacturers faced a shortage of labor and unavailability of raw materials.
  • The military and defense sensor market has a high scope of growth opportunities in the future due to factors such as high demand for army vehicles equipped with safety features, and greater adoption of automatic driver assistance systems.

The research provides detailed segmentation of the global military and defense sensor market based on platform, component, application, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.

Based on the platform, the land segment held the highest share in 2021, accounting for more than two-thirds of the global military and defense sensor market, and is expected to continue its leadership status during the forecast period. However, the airborne segment is expected to register the highest CAGR of 6.77% from 2022 to 2031.

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Based on components, the hardware segment accounted for the highest share in 2021, contributing to more than 65% of the global military and defense sensor market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the software segment is expected to manifest the highest CAGR of 7.69% from 2022 to 2031.

Based on application, the target recognition segment accounted for the highest share in 2021, holding a significant market share of the global military and defense sensor market, and is expected to continue its leadership status during the forecast period. However, the communication and navigation segment is estimated to grow at the highest CAGR of 8.62% during the forecast period.

Based on region, North America held the largest share in 2021, contributing to nearly half of the global military and defense sensor market share, and Europe is projected to grow with the highest CAGR during the forecast period. In addition, the Asia-Pacific region is expected to manifest a significant CAGR of 6.94% during the forecast period.

Leading market players of the global military and defense sensor market analyzed in the research include Thales Group, BAE Systems plc., Raytheon Company, Curtiss-Wright Corporation, Honeywell International Inc., Esterline Technologies Corporation, Kongsberg Gruppen ASA, TE Connectivity Ltd., Lockheed Martin Corporation, and Rockwest Solutions.

The report provides a detailed analysis of these key players in the global military and defense sensor market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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Military Sensors Hardware Market Research Report 2023-2035

Military Sensors Software Market Research Report 2023-2035

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Airborne Sensors Market Research Report 2023-2035

Military Sensors Cybersecurity Solutions Market Research Report 2023-2035

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